American Concept Insurance Assigned 'BBpi' Rtg by S&P.NEW YORK--(BUSINESS WIRE)--Standard & Poor's CreditWire 8/5/98--Standard & Poor's today assigned as·sign tr.v. as·signed, as·sign·ing, as·signs 1. To set apart for a particular purpose; designate: assigned a day for the inspection. 2. its double-'Bpi' rating to American American, river, 30 mi (48 km) long, rising in N central Calif. in the Sierra Nevada and flowing SW into the Sacramento River at Sacramento. The discovery of gold at Sutter's Mill (see Sutter, John Augustus) along the river in 1848 led to the California gold rush of Concept Insurance Co. American Concept Insurance is licensed in seven states. The company commenced operations in 1974, and the principle state in which it operates is Utah. It is a member of the Providence Providence, city (1990 pop. 160,728), state capital and seat of Providence co., NE R.I., a port at the head of Providence Bay; founded by Roger Williams 1636, inc. as a city 1832. Washington Group. The group is currently owned by Baloise Insurance Group, a large insurance group based in Switzerland, but as of July 1998 the company is being purchased by Securitas Capital LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , a New York-based investment firm. American Concept participates in an interaffiliate pool with three other group companies. The pool's major line of business is commercial auto liability. The company meets Standard & Poor's criteria for the double-'Bpi' rating assigned to qualifying Providence Washington pool members. Ratings denoted with a 'pi' subscript (1) In word processing and scientific notation, a digit or symbol that appears below the line; for example, H2O, the symbol for water. Contrast with superscript. (2) In programming, a method for referencing data in a table. are insurer An individual or company who, through a contractual agreement, undertakes to compensate specified losses, liability, or damages incurred by another individual. An insurer is frequently an insurance company and is also known as an underwriter. financial strength ratings based on an analysis of published financial information and additional information in the public domain. The ratings do not reflect in-depth meetings with an insurer's management nor do they incorporate material nonpublic information Nonpublic information Information about a company that is not known by the general public, which will have a definite impact on the stock price when released. See: Insider trading. , and are therefore based on less comprehensive information than ratings without a pi subscript. Pi ratings are reviewed annually based on a new year's financial statements, but may be reviewed on an interim basis if a major event that may affect an insurer's financial security occurs. The pi rating process covers U.S insurers to which Standard & Poor's previously assigned quantitative ('q') ratings, and may include information beyond that used to derive the previous quantitative-only ratings. Pi ratings are not modified with 'plus' or 'minus' designations, nor are they subject to potential CreditWatch listings, Standard & Poor's said. -- CreditWire
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